A two-hour special looking back at her life and career will also be broadcast on the same evening from 9-11pm.

Walters will continue to executive produce The View, and will also contribute to ABC News' output.

Meanwhile, ABC News has announced plans to rename its headquarters after Walters at a ceremony in the coming weeks.

"In this business there are legends, there are icons, and then there is Barbara Walters," said Disney CEO Bob Iger.

"She's a dear friend and colleague as well as someone I deeply admire, and it's impossible to fully convey her impact and influence on television.

"She broke barriers, defied convention, made history and set the standard for journalistic excellence for more than 50 years. It's hard to imagine television without her."

The Emmy Award-winning journalist began her career in 1961 as a researcher for NBC's Today Show, becoming the show's first female co-host in 1974 after the death of Frank McGee.

Walters was the first female co-anchor on any US network evening news programme in 1976, working alongside Harry Reasoner on ABC News, and has also worked on the network's Friday night news magazine show 20/20.